Infor announced today a new banking solution called Electronic Banking for System i, powered by Cashbook. The full banking solution will provide customers a complete cash management system with a central interface, allowing users to process, pay and reconcile cash through one application with immediate updates reflected in the ERP system. The solution enables companies to streamline and automate critical time-consuming processes and reduce risk of error. Highlights of the Infor announcement include the following:
- Infor and Cashbook have partnered to create Electronic Banking for System i, a complete, integrated cash management system for companies running on the IBM System i platform.
- Electronic Banking for System i provides customers a single application for cash management, eliminates error-prone steps, and increases productivity and visibility.
- The solution, which sits atop the ERP system, includes modules for electronic payments, bank reconciliation, bank lockbox/automation, direct debits, and bank statement uploads.
- Electronic Banking for System i is available for Infor ERP LX, Infor ERP BPCS, Infor ERP System 21, and Infor ERP XA.
- Infor has approximately 15,000 System i-based customers worldwide.
"The electronic banking solution that we use from Cashbook has enabled us to dramatically reduce the number of bank accounts and time taken to complete payment runs, as well as provide complete visibility into our global cash balances at all times," said David Bailey, financial accountant, Formica. "We've successfully used the solution to complete AR Drafts and Direct Debits projects, Bank Statement Upload processes for 20+ accounts, payroll file imports across Europe, and to create a new global payment system for our European payments."
Partnering with Cashbook
"Infor continues to demonstrate its commitment to our System i-based customers by enhancing and innovating our ERP systems to bring greater efficiency and improved performance," said Kari Miller, senior director, System i Product Management, Infor. "Partnering with Cashbook, whose electronic banking solutions have been at the forefront of the industry since 1992, to integrate cash management into the ERP is the latest proof-point to our commitment to our more than 15,000 customers on the System i platform."
Additional Resources
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Infor System i website -- http://www.infor.com/systemi/
Infor Live -- Join the conversation at www.infor.com/infornow/inforlive/
Infor says it works with a set of core beliefs that are: "We believe in the customer, and we believe that the customer is seeking a better, more collaborative relationship with its business software provider. And a new breed of business software: created for evolution, not revolution. Software that's simple to buy, easy to deploy and convenient to manage. Our 70,000 customers in more than 100 countries stand with us. We look forward to your sharing in the results of our belief. There is a better way." For additional information, visit www.infor.com.
About Cashbook Ltd.
Cashbook Ltd. provides cash management and electronic banking solutions for more than100 customers in 20 countries around the world. Cashbook is a multi-site, multi-currency, multi-lingual solution which radically reduces the time needed to perform day-to-day tasks in finance departments. www.cashbook.com.
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